Personal Customers

Personal Customers

If you are concerned about financial difficulties or have already fallen behind on your personal loan, credit card or mortgage repayments, Cabot Financial Ireland is here to help you.  The earlier we are given the opportunity by you to understand the financial difficulties you are experiencing, the sooner we can work together to find a solution.

As a regulated Credit Servicing Firm, we ensure that our engagement with customers in financial difficulties is consistent with the appropriate regulatory standards and obligations and that the customers benefit fully from the protections provided by the regulatory codes.

Cabot Financial Ireland encourages all customers to engage with us regarding any aspect of financial difficulty at the earliest opportunity.

How we can help you varies based on the type of loan you have and if it is secured on your primary residency or otherwise.

DIFFICULTIES RELATING TO LOANS FOR YOUR PRIMARY RESIDENCE

Where a loan is secured on a property which is your primary residence in the State or a residential property which is the only residential property in the State that you own; the Central Bank’s Code of Conduct for Mortgage Arrears(“MARP”), available at https://centralbank.ie/regulation/consumer-protection/consumer-protection-codes-regulations#mortgage-arrears provides a wide range of protections for you. 

We have summarised how we support customers under MARP in a short booklet which describes the process and the potential options that may be available to you: Cabot Financial Ireland – MARP Booklet. The following are the key stages in the process:

  1. Communication regarding your financial difficulties between us;
  2. Obtaining Financial information to enable a common understanding of the difficulties to be determined;
  3. Assessment of options that may be available;
  4. Resolution of the difficulties by means of implementing an alternative arrangement where appropriate.

In addition, the MARP process includes an Appeals process if you do not agree with the outcome of any restructure proposal or if you are dissatisfied in the event that we deem you to be non-cooperative. 

In order to benefit fully from the protections of MARP, it is critical that you engage with us. This is to ensure we can understand your situation in detail and assess how we can assist you; and to protect against the risk of being excluded from MARP by reason of failing to engage with us in an appropriate manner.

 

DIFFICULTIES RELATING TO LOANS OTHER THAN THOSE SECURED ON YOUR PRIMARY RESIDENCE

Consumer Loans, Overdrafts, Credit Card Debt; together with Mortgage Debt which is not eligible for the MARP process benefit from the protections of the Central Bank’s Consumer Protection Code(“CPC”) https://centralbank.ie/regulation/consumer-protection/consumer-protection-codes-regulations#consumer-protection-code

Any information you share, or conversations you have with us, will be treated with the strictest of confidence.

 

CONTACT US

Telephone – Promontoria Scariff Mortgage Accounts: 01 – 464 9070

(Monday – Thursday 9 am/5:30 pm; Friday – 09am/5:00pm)

Telephone – Pepper Mortgage Accounts: 01 – 464 9090

(Monday – Thursday 9 am/5:30 pm; Friday – 09am/5:00pm)

Telephone – Other Mortgage Accounts: 01 – 464 9004

(Monday – Thursday 9 am/5:30 pm; Friday – 09am/5:00pm)

Telephone – All other Accounts: 01 – 464 9000

(Monday – Thursday 08:30am/08:00 pm; Friday – 08:30am/5:00pm)

 

STANDARD FINANCIAL STATEMENT (SFS)

We use the Standard Financial Statement (SFS) to gather information regarding your financial circumstances when you are in financial difficulties relating to a mortgage. The SFS is an industry-wide document issued by the Central Bank of Ireland. You can access a copy of our SFS using this link: Cabot Financial Ireland – SFS Form.

Supporting documentation in addition to the SFS will be required.  Our team will be happy to help you complete the SFS and determine any supporting documentation which will be required.

The Central Bank of Ireland has a helpful guide to completing a SFS.  https://www.centralbank.ie/consumer-hub/consumer-guides

 

INTEREST AND CHARGES

We do not charge surcharge interest on arrears.  However, interest is charged on the full amount outstanding on your loan.

You will pay increased interest if you are in arrears, as the balance outstanding will include your arrears amount.

 

USEFUL CONTACTS & LINKS

 Mortgage Advice & Budgeting Service (MABS)

 www.mabs.ie

www.mabs.ie/abhaile

 0761072000
 Keeping Your Home  www.keepingyourhome.ie  
 Insolvency Service of Ireland (ISI)  www.isi.gov.ie www.backontrack.ie  0761064200
 Citizens Information Board  www.citizensinformation.ie  0761074000
 Department of Social Protection  www.welfare.ie  
 Office of the Revenue Commissioners  www.revenue.ie  

REGULATORY WARNINGS

Please note carefully the following information relating to Irish Housing Loans covered under the Irish Consumer Credit Act 1995 and the Consumer Protection Code.

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT. IF YOU DO NOT MEET THE REPAYMENTS ON YOUR LOAN, YOUR ACCOUNTS WILL GO INTO ARREARS.
WARNING: IF YOU DO NOT MEET THE REPAYMENTS ON YOUR CREDIT AGREEMENT, YOUR ACCOUNT WILL GO INTO ARREARS.  THIS MAY AFFECT YOUR CREDIT RATING, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT IN THE FUTURE.
WARNING: THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME.
WARNING: THERE IS NO GUARANTEE THAT THE PROCEEDS OF THE INSURANCE POLICY WILL BE SUFFICIENT TO REPAY THE LOAN IN FULL WHEN IT BECOMES DUE FOR REPAYMENT.

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